Huobi Token HT - Why Huobi Token is raising Green Flags
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The author does not speak Chinese, so the following analysis is lacking a lot of good information the author would like to have. For instance, at the outset, we are unsure as to whether the ICO has already finished or will finish tomorrow, August 15
Antshare Price Aud
We were not tipped off about the ICO until the end of last week, via Twitter[]. From there, we’ve had little luck finding out much more information besides the one English language whitepaper. There may still be an opportunity here, so we will look over it. After all, people who apparently do speak Chinese have contributed over $1.7 million in Ethereum so far.
As such, we will try to avoid being providing an authoritative analysis here, and instead provide the information we were able to acquire and then a numerical rating based on that.
This is not a typical analysis for us because this is not a typical ICO for us.
, formerly Antshares, can be best described as the Chinese answer to both Bitcoin and Ethereum. While there are plenty of Satoshi-based coins that take on a Chinese-specific tone, none have really made waves in the same way that NEO has over the past several months, since its rebranding. News such as the Chinese government collecting taxes via the blockchain [] seems to translate to price rises for the platform. Here’s a peek at recent activity for NEO:
The High Performance Blockchain (HPB) uses NEO in the same way that Aragon and other ICOs we have seen on Ethereum use Ethereum: for
token issuance. Beyond that, it is its own software.
The High Performance Blockchain seeks to make blockchain integration for real-world businesses easier through the introduction of an application programming interface. While this is the idea of NEO at its core, in the same way that Aragon seeks to make Ethereum integration easier, HPB can make NEO integration easier.
This is achieved by creating an architecture similar to an API operating system. The software architecture provides accounts, identity and authorization management, policy management, databases, and asynchronous communication on thousands of CPUs, FPGAs or clustered program schedulers. This blockchain is a new architecture that can support millions of transactions per second andsupport authorizations within seconds.
In doing this, HPB is using the Delegated Proof of Stake consensus mechanism. This is the mechanism used by Bitshares and others which changes the way that rewards are done in a proo of stake system. In a traditional proof of stake system, the more coins one has, the more weight one has, and therefore the higher one’s odds of “minting” new blocks. In a delegated proof of stake system, blocks can be minted regardless of existent weights, reputation systems are used, and a trusted panel of holders must be established. Real-time voting is also used. For an overview, see
The HPB team claim to have worked closely with Chinese mega firm UnionPay to design their system, which will have
. Blocks this fast would be nearly impossible in a proof-of-work system. However, a highly-efficient, highly-available blockchain like this will have a great degree of utility as more and more of the world comes online and needs to interact with global finance networks, often enough without local legacy financial partners to work through. Even if it were a strict clone of Aragon with translations and localizations integrated for the Asian markets, HPB would have some value in this respect.
What is unclear is what the HPB token, NEO, and the HPB blockchain will do in concert with each other. We gather that the token itself will be issued on the NEO blockchain. We gather that the HPB token will be used for businesses to interact with the HPB ecosystem, which we understand will be a delegated proof-of-stake system that is independently mined of the NEO shares blockchain. We understand that HPB is designed to specifications provided by UnionPay.
The HPB team imagine their platform making waves in several industries, including:
Their medical use case responds directly to a Chinese government report which lists problems and necessary improvements of the Chinese medical system. They believe that through development on top of the HPB they can make these problems a thing of the past. Their primary contribution to this would be through easing data sharing.
A localized platform which makes integrating with Chinese government institutions a breeze would have significant value in the global economy, as more and more entrepreneurs seek to expand beyond international borders.
Regarding the token, we get a few more details in English that are relevant.
The maximum that could have been generated, based on their funding goals, is 28.6M HPB tokens. The lowest cost of these tokens was about .00077 Ether each (or the equivalent in Bitcoin or NEO), but the current cost is .001 Ether each token (if the sale schedule is correct). To get issued the token, it appears you send your Ether
. As far as we can tell, you have until August 15th at midnight.
It’s clear to this author that the High Performance Blockchain initiative does not want his western monies. If they did, more information in English would be available. As such, it’s probably unsafe to invest without a reliable translator to get all the requisite details for you.
But if we’re going to place bets on the likelihood that this will turn a profit at a rate of .001 Ether per token, we can use our grizzled nose to issue a gut-based rating of
Something like this is much too murky to get overly behind. Many of the concepts which are touched upon in the
are being thoroughly pursued by efforts specifically focused on them. This doesn’t detract from its potential. They’ve raised a large sum already, nearly $2 million. With this kind of runway, they should be able to build something of use, but will it be a big profitable thing which makes the HPB token in high demand? Hard to believe without a lot more information, and such information is hard to come by for a lowly English speaker like this author.
Much like NEO itself, it’s something that could hold serious potential but requires a lot of extra legwork to become educated about. As such, it’s not a beginner-level investment at all. Timing exits, consolidations, et cetera would be much more difficult than with a typical instrument, and the hazard of acting badly but in good faith is very high.
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P. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link
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Could you please do Ubiq? This sounds promising from a beginner’s perspective.
I got myself some HPB tokens. I can’t find any information on the website regarding exchange, no contact data to ask questions.
me too…i’ve sent ethers from myetherwalet to this address0x29AeA33a8E31ac0DF9B52d5Be5C22Cef73507A5e
Done! I’ve my HPB’tokens on myetherwallet…Thanks chinese’guys’!
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Game Protocol is a decentralized gaming ecosystem for blockchain video games, based on Ethereum. Its primary purpose will be to allow game fans to fund developers and benefit from their success. Brought to us by the same team that’s behind
app that has been downloaded over 1 million times, GamyTech has decided to open up their platform to the public so that everyone can produce and release their own games without dealing with publishers or any other middlemen.
When a development team has an idea for a new blockchain game, the Game Protocol Ecosystem will be its incubator and help it scale in every way possible.
Game Starter – A smart contract based, fully automated crowdfunding system. Developers can create and sell their own crypto-based in-game currency based on Game Protocol Token. This is done via smart contracts that allow the easy creation of tokens. With the use of the Bancor liquidity pool, players can easily exchange between in-game currencies
Game Store – A decentralized platform where fans can play games that have been funded and developed.
Community – The GamyTech website has an “existing premium user base (users who actually spent money in the game) of about 700,000 members.
Developers Tools – The developer’s tool contains a set of utilities that developers can leverage to quickly build a new real money game. These tools will simplify a developer’s work and provide API access to the following:
A Provably fair random number generator found on page 15 of the
There will be two types of tokens in this ecosystem. The native Game Protocol Tokens (GPT), and Game-Specific Chips (GSC).
When investors contribute to the Game Protocol ICO they will receive GPT to be used for services and resources provided by others via smart contracts. GPT will be traded on different exchanges.
When investors see a game they want to fund, they will exchange GPTs for the new game projects own original token (GSCs). The utility of a new GSC is completely at the game producer’s discretion; they can, for example, exchange it for in-game special features or provide full access to the new game.
Holders of GPT and GSC will be able to quickly exchange back and forth through use of the Bancor Protocol.
Game Protocol’s team is 21 people deep. Most all of them currently work for partner company
Jonathan Swerdlow – CEO. He’s been head of marketing at Makor Capital since 2014. And CEO of GamyTech since 2014.
Michael Halimi – Chairman Executive Manager. He is also the CEO of Makor Capital, a global brokerage with offices in Paris, Geneva, New York, and London. 10 years as Managing director for Cantor Fizgerald.
Avi Bouhadana – President Executive Manager. He was also a founding partner at Makor and a managing director at Cantor Fitzgerald.
Paul Huang – Technology Executive Manager. He too is a senior managing director at Makor. Spent 10 years as a Research Staff Member for IBM Math and Science Dept.
Moshe Elbaz – CTO. He is CTO of GameyTech since 2014. Spent 1.5 years as Head of a game dev team for Bio-gaming.
Sandra Elbase – CMO. She spent three years as Senior Marketing Mobile Manager for Pokerstars (the #1 online poker site ever).
Efraim (Evan) Wolpert – CFO. He was also CFO for Makor Capital since 2010. Antshare Price Aud
They have 11 advisors with different areas of expertise, some of them will be helpful to the project. The strongest advisor on paper is Michael (ByungSoo) Kim, who worked for EA Sporsts, Microsoft, Blizzard, and Wargaming.
“GamyTech has developed over seven successful mobile games with millions of downloads in both Apple’s App Store and Google play store. With a focus on real-money skill-based games, this experience has given the GamyTech staff a unique perspective on the video game industry and its issues. Using their knowledge and massive community, In the past 3 years, we raised over 3 million dollars and released 8 new games. Our games have been downloaded more than 4 million times.” (whitepaper)
It’s very important we note how hard it is to verify this quote. For sure their Backgammon game is a hit. But, there are zero other playable games that we could find. The only game that is available to play that we know of is
If they aren’t being completely honest about creating several successful games, that’s a giant red flag.
Although they probably really need it to compete with the big dogs, the $30 million hard cap is high and will prevent early token price gains.
Lots of competition, including Indigogo and Kickstarter.
The founders of Game Protocol also founded GamyTech, and also founded and managed Makor Capital.
Ten percent of the GPTs issued will be retained in a special Game Support Fund. This fund will allow the company to support promising game projects that will be listed on GameStarter.
They do have an MVP, if you want to call it that. It’s their
With the low supply of 150 million tokens, If just one project that’s created on with Game Protocol becomes popular it would create a huge token price increase.
They spoke at Consensus 2018 as well as several other conferences.
It’s a fascinating project with a lot going for it long team. However, the ICO seems too risky. Maybe keep an eye on it, and wait for the probable post-exchange price drop.
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Joshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data.
Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!
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You are the head of a company and want to learn what people think of your products. Normally you would hire a market research firm which charges you high fees for their services. They would ask people to fill out surveys express their opinions about your company or some of your products. This takes a long time, costs you a good amount and is not always fully representative of public opinion.
comes in. They cut the middleman, decreasing fees and allows companies to reach their customers directly, removing the possibility of data manipulation. Also the data is obtained in real-time, meaning that the whole process of getting reviews and feedback is much faster now. Everyone is incentivized to act honestly by a staking and rewarding mechanism. There are three main actors in the system and their roles are as follows:
Reviewers: Reviewers are actors that provide feedback, fill out surveys, etc. They are asked to stake some REW tokens prior to doing work and if their work is not genuine and, they lose those staked tokens. If a reviewer is honest and provides genuine feedback, he or she is rewarded.
Validators: Validators are actors that basically check data provided by reviewers. They shall conduct a validity check according to some pre-determined guidelines. The same staking mechanism applies to validators as well. In some sense validators’ role in the system is quite similar to proof of work miners. Honest and genuine validations will be rewarded as well.
Companies: Companies are actors that demand market research and then pay REW tokens for them. They will be asked to stake tokens since they might be reluctant to pay rewards to reviewers once the research is conducted. Validated data shall be available to companies in real-time.
But it is a mistake to think that Review Network is a mere human-based automated review system based on blockchain technology. The project’s appealing to machine learning and data analytics provides great utility as well. For instance, an algorithm to determine fake reviews shall be implemented, thus fake reviews will be removed instantly once they are determined to be fake.
The use of blockchain is a great fit for this project’s purposes also. Transparency and immutability of reviews is a necessity for honest and genuine reviews and the automated reward payment system removes any concern that reviewers and validators might have regarding their rewards. Furthermore, responses with higher quality completed in a shorter time shall yield more rewards.
REW tokens will be used for interactions between reviewers, validators and companies within the system as explained before.
The initial total supply of REW is 5 billion tokens with the following token distribution:
The token sale will be conducted in six stages. Although it is not disclosed what bonuses stage one investors got, a bonus of 50% for stage 2 investors is made public, which is quite concerning for later stage investors. These bonus tokens will be locked for two to three months, creating an immediate selling pressure. Stage 3 and later stage investors’ tokens do not have any lock-up period.
Team and advisor tokens are locked for 3 and 2 months, vested over 12 months respectively.
The team is planning to use the token sale proceeds as follows.
CFO & Partner Reinhard Fellman: Fellman was an analyst at Commerzbank AG and an associate at Morgan Stanley before he started to work towards a PhD degree at London School of Economics.
Data Analyst Olivera Sazos: Sazos is the current manager of data analytics at nbn
Australia, a telecommunications company. Previously she has worked as a data analyst at Optus, another telecommunications company, and BT Financial Group.
Ivan Bjelajac: Bjelajac was an advisor at Lemon.mail, the world’s first encrypted and decentralized e-mail service.
Robert Golladay: Golladay has worked as the head of IBM Europe’s digital business automation business. He is the managing director at CognitiveScale, a blockchain and artificial intelligence company.
Payxpert: A payment provider company based in Cambridge, Great Britain.
Bancor: An exchange project, allowing direct trading between supported coins.
Below is a breakdown of the risks and growth potential of Review Network.
High bonuses for early-stage investors are definitely concerning. (-2)
No announcement with any company to adopt Review Network so far. (-1)
Partnership with Payxpert and Bancor should provide high liquidity both in early and later stages. (+3)
Their use of blockchain for an industry in which transparency and honesty are of utmost importance. (+3)
Review Network aims to solve problems in the market research industry by introducing a solution based on blockchain technology, machine learning and artificial intelligence. They seem to have made great progress so far and the project definitely has the potential to be adopted by big companies. Token metrics could be much better as they do not seem to be fair for small investors. Review Network receives a
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is a blockchain music economy, combining the best of crowdfunding platforms such as Kickstarter, music streaming services such as Spotify, social networks such as Facebook and multimedia sharing platforms such as YouTube. Aiming to create a better platform for the 21
-century music economy, Imusify uses blockchain ledgers and smart contracts to ensure a fairer distribution of assets within the industry.
In the current music industry, the middleman gets the highest cut while the actual work is done by artists. In many cases, artists do not have the ownership of their works and this results in a lower income distributed in a quite non-transparent way. Artists using the Imusify platform will have complete control over their artworks and royalties, solving one of the biggest problems in the industry. They will be automatically rewarded on a per stream basis, meaning that not only the fairness of distribution is ensured, but also that no payment will be delayed ever.
Some important components of the platform are as follows:
Crowdfunding engine: Any artist can run crowdfunding campaigns for her albums, videos or tours.
Transparent and fair payments: Thanks to the blockchain ledger and smart contracts, artists are automatically paid in a transparent and fair way.
Reward system: Imusify users who create posts, playlists and comments will be rewarded in return for their contributions.
Co-evolutionary copyright management: Content owners will be provided tools to manage copyrights.
Any interaction or transaction between users of the platform will be covered by Imusify’s IMU token pool or it will cost tokens for the exchange of digital assets and services. Some of IMU’s primary use-cases are as follows:
The initial total supply of IMU is 1,000,000,000 tokens with the following token distribution:
The team expects the actual circulation for the first few years to be around 650 million tokens. According to their estimations, only after five years, 1 billion tokens will be in the market. Tokens allocated for the team and advisors are locked for one year and then each month 4% of these tokens will be released.
In the ongoing private sale round, a bonus of 50% is offered to investors, which is quite concerning. During the pre-sale investors will have a 30% bonus and the main-sale contributors will be able to buy their tokens with a bonus between 12% and 0%. Unsold tokens will be allocated to “Ecosystem” and will be vested.
If no strict entry barrier for pre-sale is implemented so that anyone meeting the requirements for the main-sale can buy in the pre-sale stage, it is quite likely that most of the tokens allocated for the main sale will not be sold. Furthermore, no vesting periods for tokens sold in presale and for only some sold in private sale makes a dump just after the token hits the market quite possible.
The team is planning to use the token sale proceeds as follows:
CEO David Walters: Walters has worked as a portfolio manager at Generali, a German insurance company, and is a former artist, songwriter and performer.
Chris Hager: Hager is a developer at City of Zion, a group of developers supporting the NEO ecosystem.
Nikolaj Kuntner: Kuntner is an open source developer at City of Zion and a software engineer at DAQRI, a computer hardware company.
Marcus Brown: Brown has worked as a senior art director for several reputable marketing and advertising companies such as TBWA\Media Arts Lab, 180LA and Crispin Porter + Bogusky.
Dennis Chin: Chin is a former corporate development officer at EMI Music, one of the world’s leading music companies.
City of Zion: City of Zion is a group of developers supporting the NEO ecosystem.
O3 Labs: A leading light wallet application on the NEO blockchain.
Below is a breakdown of the risks and growth potential of Imusify.
High bonuses offered for private sale and presale make the public sale practically obsolete. It is quite unlikely that all tokens allocated for the public sale will be sold. (-2)
MVP will be launched in January 2019 and the platform in November 2019. One can expect a high selling pressure in the absence of any near milestone. (-1.5)
Backed by NEO and world-class developers of City of Zion should accelerate its adoption. (+1)
Blockchain ledgers and smart contracts have a high chance of solving crucial problems in the music industry. (+2)
Unless all public sale tokens are sold, Unless all public sale tokens are sold Antshare Price Aud
Imusify is a blockchain music platform, aiming to solve some of the most crucial problems in the industry. Although the lack of competition and the fact that they are backed by the NEO ecosystem might accelerate their adoption, that there is no milestone before the next year and questionable token metrics raise an eyebrow. Imusify receives a
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